Why Is Cybersecurity Important?

No matter where you go, you’ll eventually come across business owners investing in the cybersecurity space. Not to mention that with ubiquitous ransomware and phishing attacks, it’s difficult to maintain the security of corporate data. Even before it’s necessary, Chubb helps companies proactively defend themselves against cyberattacks, rather than sitting back and cleaning up after the fact. Cybersecurity is important because it protects all categories of data from theft and damage. This includes sensitive data, personally identifiable information, protected health information, personal information, intellectual property, government and industry data, and information systems. Without a cybersecurity program, your business can’t defend itself against privacy breach campaigns, making it an irresistible target for cybercriminals.

Many of us have heard of the scams of British Airways, Target and Equifax, which resulted in heavy fines and made customers doubt their trust in the companies. It’s no wonder that companies start with the intention of making profits. However, when a business is shut down, business owners have to worry about sudden losses. In some cases, when a business owner takes out a loan from a financial institution, they need to repay it on time.

There are definitely no plans to switch to another IT services company in the foreseeable future. They have always done everything to provide high quality professional IT services to meet all the requirements we place on them within the deadlines we set. Prevent your website from going down: As a business, you’re probably hosting your own website. If your system becomes infected, there is a very real chance that your website will be forced to shut down. This means that not only do you lose money for lost transactions, but you also lose the trust of customers and certain viruses can often cause permanent damage to a system. Make sure you have a physical and cloud backup that syncs at least once a week.

This can be employee data, bank and transaction records, business plans, and customer records. UpGuard is a complete attack surface and third-party risk management platform. Our Security Ratings Engine monitors millions of businesses every day. UpGuard also provides protection against third-party data leaks, which can be entrusted to a team of cybersecurity experts to facilitate the rapid scaling of the security program. While these are some examples of high-profile data breaches, it’s important to remember that there are even more that never made it to the front page.

Just as you can have motion sensors in your office to detect suspicious movement when you’re not there, you may have monitoring on your network to detect suspicious traffic. Similar to your physical security, this may be a service provided by a third party. If you have a Wi-Fi network for your workplace, make sure it’s secure, encrypted, and hidden. To hide your Wi-Fi network, configure your wireless router or access point not to transmit the network name, called the Service Set Identifier.

If employees work from home, make sure your home system is protected by a firewall. That said, insurance alone can’t be called a cybersecurity plan, and most policies include strict regulations that dictate what specific steps the company must take to get coverage. This means that if there cybersecurity for manufacturing is an attack and loss and your company makes a claim, the insurance company will verify that you have followed the required policies and procedures before paying the claim. Therefore, cybersecurity insurance policies are a great tool for enforced compliance with cybersecurity plans.